Monday, July 21, 2025
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Acquisitions

AcquisitionsArkansasSoutheastStudent Housing

SAM, Virtus Acquire Student Housing Community Near University of Arkansas for $72.3M

by John Nelson

FAYETTEVILLE, ARK. — A joint venture between Strategic Asset Management (SAM) and Virtus Real Estate Capital has acquired YOUnion@Fayetteville, a 589-bed student housing development located near the University of Arkansas campus in Fayetteville. The project was acquired from Strategic Student & Senior Housing Trust Inc. — a public, non-traded REIT sponsored by SAM — for $72.3 million. An undisclosed affiliate of SAM will serve as property manager on behalf of the joint venture. TSB Capital Advisors consulted on the joint venture and arranged acquisition financing on behalf of SAM and Virtus. YOUnion@Fayetteville offers 198 fully furnished units in one-, two-, three- and four-bedroom configurations. The property is fully leased for the 2024-2025 academic year.

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AcquisitionsMultifamilySoutheastTennessee

Hamilton Zanze, Lionstone Investments Purchase 19-Story Morris Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — A joint venture between Hamilton Zanze and Lionstone Investments has purchased The Morris, a 19-story apartment tower located at 818 19th Ave. S in Nashville’s Music Row district. Hamilton Zanze sponsored the transaction through HZ Capital Partners Fund I, making it the fifth sponsored for the San Francisco-based investor this year. The seller and sales price were not disclosed. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the 344-unit property. Built in 2017, The Morris offers studio, one- and two-bedroom apartments that range in size from 557 to 1,104 square feet. Amenities include a rooftop pool with glass overlook, music studio, rooftop performance venue, a 19th-floor sky lounge, fitness center, private yoga studio, concierge services, EV charging stations, pet spa, lounge, coffee bar and indoor bike racks. The property is named for being the longtime site of the offices for Dale Morris, a country music agent to stars including Kenny Chesney and Martina McBride.

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AcquisitionsFloridaRestaurantRetailSoutheast

SRS Brokers $6.6M Ground Lease Sale for New Fort Myers Restaurant Building Leased to Cooper’s Hawk

by John Nelson

FORT MYERS, FLA. — SRS Real Estate Partners has brokered the $6.6 million sale of a ground lease for a new restaurant building located at 13671 Olympic Court in Fort Myers. Cooper’s Hawk Winery & Restaurant occupies the 10,653-square-foot property on a 15-year triple-net lease. Britt Raymond and Kyle Fant of SRS represented the seller, Stock Development, in the transaction. Josh Kanter and Anthony D’Ambrosia of NNN Pro represented the undisclosed buyer, a private investment firm that purchased the restaurant in a 1031 exchange. The restaurant sits on a 2.2-acre site along 6 Mile Cypress Highway and adjacent to Daniels Crossing, a 500,000-square-foot, Publix-anchored shopping center.

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AcquisitionsNorth CarolinaRetailSoutheast

Marcus & Millichap Brokers $5.5M Sale of Retail Center in Franklin, North Carolina

by John Nelson

FRANKLIN, N.C. — Marcus & Millichap has brokered the $5.4 million sale of a retail center in the western North Carolina city of Franklin. Located at 109 Commons Drive, the 32,000-square-foot property was 96 percent leased to 12 tenants at the time of sale to retailers including Dollar Tree, CATO and Sally Beauty Supply. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a Louisiana-based family office, in the sale. Benjamin Yelm assisted in closing the transaction as the firm’s broker of record in the state. The buyer was not disclosed. “This center has a regional trade area and serves as the Walmart for Highlands, N.C., a popular resort and second-home market for many major metros in the Southeast,” says Taylor. “The buyer was drawn to Walmart’s dominant presence and the limited future development potential due to the surrounding area’s topography.”

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AcquisitionsLeasing ActivityRetailSoutheastTennessee

RealSource Negotiates Sale-Leaseback of 34,000 SF Retail Property in Metro Memphis Leased to LA Fitness

by John Nelson

COLLIERVILLE, TENN. — RealSource Group has negotiated the sale-leaseback of a 34,000-square-foot single-tenant retail property located at 1088 W. Poplar Ave. in Collierville, roughly 30 miles southeast of Memphis. LA Fitness occupies the property, which was built in 2019. Ted Slaughter and Jonathan Schiffer of RealSource, in association with Scott Reid of ParaSell Inc., represented the seller, Fitness International (the parent company of LA Fitness), in the transaction. A private investor acquired the property for an undisclosed price. LA Fitness will continue to occupy the building, which is situated near the 1 million-square-foot FedEx World Tech Center and 900,000-square-foot Carrier facility, on a 15-year net lease. Chipotle Mexican Grill and Chick-fil-A occupy outparcels near the property.  

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AcquisitionsNew YorkNortheastRetail

Katz & Associates Negotiates $7.6M Sale of Two Retail Properties in Nanuet, New York

by Taylor Williams

NANUET, N.Y. — Regional brokerage firm Katz & Associates has arranged the $7.6 million sale of two retail properties in Nanuet, located near the New York-New Jersey border. Built in 1973, the properties comprise a 2,500-square-foot single-tenant building and a 30,000-square-foot multi-tenant building. Chase Bank occupies the single-tenant building, and the multi-tenant building is leased to Tile Shop, Carpet One and Hudson Valley Integrated Medicine. Donny Moskovic of Katz represented both the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges Sale of 30,000 SF Retail Building in Reading, Massachusetts

by Taylor Williams

READING, MASS. — Locally based brokerage firm Atlantic Capital Partners has arranged the sale of a 30,000-square-foot retail building in Reading, a northern suburb of Boston. HomeGoods occupies the entirety of the freestanding building, which sold for $5.6 million. Justin Smith, Chris Peterson, Sam Koonce and Matt Austin of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

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Casas-Adobes-Plaza-Tucson-AZ
AcquisitionsArizonaRetailWestern

First Washington Realty Sells Casas Adobes Plaza Shopping Center in Tucson, Arizona for $51M

by Amy Works

TUCSON, ARIZ. — First Washington Realty has completed the disposition of Casas Adobes Plaza, a shopping center located 7001-7139 N. Oracle Road in Tucson, to an undisclosed buyer for $51 million. Situated on 9.5 acres, the 92,300-square-foot Casas Adobes Plaza was originally built in 1953 and remodeled in 2014. At the time of sale, the retail center was 97 percent occupied by a variety of tenants including Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets Investment Advisory handled the transaction. Greg Brown and Jason Carlos of JLL Debt Advisory facilitated acquisition financing through a correspondent life insurance company for the buyer. Quin Madden of JLL assisted with the sale and financing.

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Dove-Valley-Logistics-Centre-II-Englewood-CO
AcquisitionsColoradoIndustrialWestern

BlueScope Properties Divests of 304,620 SF Dove Valley Logistics Centre II in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of Dove Valley Logistics Centre II, a Class A warehouse located at 7800 S. Fairplay St. in the Denver suburb of Englewood, to LBA Realty for an undisclosed price. Sean Devaney and Rob Key of JLL Investment Sales and Advisory represented the seller in the deal. Built in 2023, the 304,620-square-foot cross-dock warehouse offers 89 dock-high doors, 36-foot clear heights, 60-foot column spacing and ESFR sprinklers. Additionally, the property offers 6,700 square feet of office space, including an employee break area, wellness room, conference room and security station. At the time of sale, the asset was fully leased by an e-commerce giant.

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AcquisitionsIllinoisMidwestMultifamily

GREA Brokers Sale of 139-Unit Apartment Building in Chicago’s Lakeview East Neighborhood

by Kristin Harlow

CHICAGO — GREA has brokered the sale of a high-rise apartment building with 139 units in Chicago’s Lakeview East neighborhood for an undisclosed price. With separate lobbies at 535 W. Cornelia Ave. and 534 W. Stratford Place, the property contains a mix of studio, one-, three- and four-bedroom units. The studio and one-bedroom layouts range in size from 278 to 904 square feet and are located on the Cornelia side of the building, while the three- and four-bedroom units range in size from 2,260 to 2,959 square feet and are situated on the Stratford side. Bill Montana and Chris Sackley of GREA represented the private owner in the sale. The asset sold to a local family with an established portfolio of apartment properties throughout the northside neighborhoods of Chicago.

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